Fidelity's Peters: Why I have added gold to multi-asset duo

Asset class has rallied this year

Nick Peters, portfolio manager at Fidelity Multi Asset, considers whether gold could see continued strong performance, or whether this year's price rises are simply a short-term bounce.

Five years ago today, gold reached an all-time high of $1,913. While the precious metal disappointed in the subsequent five years, it has rallied in 2016, rising by around a quarter since the start of the year. Gold has outperformed several major asset classes, but still remains some way off those highs it reached in August 2011. Many investors have looked to add to gold on the back of fears over global growth, with worries over a slowdown in China particularly prevalent at the beginning of the year. The impact of these fears on the gold price can be seen over 2016, with a sharp leg u...